please help me solve Required 1 - 4.

Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash 65,200 38,800 43,300 125,0e0 Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets $ 272,300 Liabilities and Stockhelders Equity Accounts payable 66,200 7e,000 136,100 272,300 Common stok Retained earnings Total liabilities and stockholders' equity Budgeted Income Statenents April $111,000 66,600 44,400 23,300 May $121,000 72,600 48,400 June Sales Cost of goods sold Gross margin Selling and administrative expenses $141,000 84,600 56,400 27,800 24,800 Net operating income $ 23,600 $21,100 $28,600 Budgeting Assumptions a. 60 % of sales are cash sales and 40 % of sales are credit sales. Twenty percent of all credit sales are collected in the month of sale and the remaining 80 % are collected in the month subsequent to the sale. b. Budgeted sales for July are $151,000. c. 10 % of merchandise inventory purchases are paid in cash at the time of the purchase. The remaining 90 % of purchases are credit purchases. All purchases on credit are pald in the month subsequent to the purchase. The accounts payable at March 31 will be paid in April. d. Each month's ending merchandise Inventory should equal $10.000 plus 50 % of the next month's cost of goods sold. e. Depreclation expense is $1,600 per month. All other selling and administrative expenses are paid in full in the month the expense is incurred. 1 of 1 Next b. Budgeted sales for July are $151,000. c. 10 % of merchandise inventory purchases are paid in cash at the time of the purchase. The remaining 90 % of purchases are credit purchases. All purchases on credit are paid in the month subsequent to the purchase. The accounts payable at March 31 willl be paid in April d. Each month's ending merchandise inventory should equal $10,000 plus 50 % of the next month's cost of goods sold. e. Depreciation expense is $1,600 per month. All other selling and administrative expenses are paid in full in the month the expense is incurred Required: 1. Calculate the expected cash collections for April, May, and June. 2. Calculate the budgeted merchandise purchases for April, May, and June. 3. Calculate the expected cash disbursements for merchandise purchases for April, May, and June. 4. Prepare a budgeted balance sheet at June 30th. (Hint: You need to calculate the cash paid for selling and administrative expenses during April, May, and June to determine the cash balance in your June 30th balance sheet) ok t nces Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required 4 Calculate the expected cash collections for April, May, and June. April May June Quarter Total cash collections Required 2> Prev 1 of 1 Next b. Budgeted sales for July are $151,000. c. 10% of merchandise inventory purchases are paid in cash at the time of the purchase. The remaining 90 % of purchases are credit purchases. All purchases on credit are paid in the month subsequent to the purchase. The accounts payable at March 31 will be paid in April. d. Each month's ending merchandise inventory should equal $10,000 plus 50 % of the next month's cost of goods sold. e. Depreciation expense is $1,600 per month. All other selling and administrative expenses are paid in full in the month the expense is incurred. Required: 1. Calculate the expected cash collections for April, May, and June. 2. Calculate the budgeted merchandise purchases for April, May, and June. 3. Calculate the expected cash disbursements for merchandise purchases for April, May, and June. 4. Prepare a budgeted balance sheet at June 30th. (Hiint: You need to calculate the cash paid for selling and administrative expenses during April, May, and June to determine the cash balance in your June 30th balance sheet.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the budgeted merchandise purchases for April, May, and June. June Total April May Budgeted merchandise purchases 1 of 1 Prey Next : 1. Calculate the expected cash collections for April, May, and June. 2. Calculate the budgeted merchandise purchases for April, May, and June. 3. Calculate the expected cash disbursements for merchandise purchases for April, May, and June 4. Prepare a budgeted balance sheet at June 30th. (Hint: You need to calculate the cash paid for selling and administrative expenses during April, May, and June to determine the cash balance in your June 30th balance sheet.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a budgeted balance sheet at June 30th. (Hint: You need to calculate the cash paid for selling and administrative expenses during April, May, and June to determine the cash balance in your June 30th balance sheet.) Deacon Company Balance Sheet June 30 Assets Total assets Liabilities and Stockholders Equity Total iabilities and stockholders equity 1 of 1